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EXHIBIT 12
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF TOTAL ENTERPRISE RATIOS OF EARNINGS TO FIXED CHARGES
FOR THE FIVE YEARS ENDED DECEMBER 31, 1999
(Amounts in millions, except ratios)
1999 1998 1997 1996 1995
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Income (loss) from continuing operations(a) $ 699 $ 400 $ 245 $ 486 $ 325
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Add:
Provision (credit) for taxes on income
(other than foreign oil and gas taxes) 306 204 47 99 155
Interest and debt expense(b) 515 576 446 492 591
Portion of lease rentals representative
of the interest factor 31 36 39 38 43
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852 816 532 629 789
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Earnings before fixed charges $1,551 $1,216 $ 777 $1,115 $1,114
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Fixed charges
Interest and debt expense including
capitalized interest(b) $ 522 $ 594 $ 462 $ 499 $ 595
Portion of lease rentals representative
of the interest factor 31 36 39 38 43
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Total fixed charges $ 553 $ 630 $ 501 $ 537 $ 638
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Ratio of earnings to fixed charges 2.80 1.93 1.55 2.08 1.75
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(a) Includes: 1) minority interest in net income of majority-owned
subsidiaries and partnerships having fixed charges, and 2) income from
less-than-50-percent-owned equity investments adjusted to reflect only
dividends received.
(b) Includes proportionate share of interest and debt expense of
50-percent-owned equity investments.